Business Environment Factors and Their Impact
Explore the internal and external factors influencing businesses, including micro and macro environments. Learn about the significance of factors like customers, suppliers, competitors, socio-cultural aspects, economic conditions, and more in shaping organizational strategies and decisions.
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Presentation Transcript
Business Environment Anu Veerendra Assistant Environment Business Environment- -
These are also sometimes known as the internal factors. The internal factors are the strengths of the company and its weaknesses
Internal factors are like: Shareholders / promoters value Mission / objective Management structure / nature Employees Unions Internal power relationship Company image / brand equity Physical assets/ facilities R & D and technological capabilities Human resource Marketing capabilities
I. Micro environment II. Macro environment
Micro Environmental factors of an organization are those aspects which have a direct influence on the organization s relationships.. The Micro Environment are controlled by the company itself. The weaknesses are meant to be changed into strengths and the strengths are meant to be maintained and improved. Micro Environment factors
Customers Suppliers Competitors Publics Financiers Marketing intermediaries
The Macro Environment factors of an organization include the socio-cultural factors, the economic factors, the political factors, the demographic issues, technological factors. That s because the factors involved can t be controlled by the company. The example of Macro Environmental factors are the population growth rates, the lifestyle trends, the taxation laws, the inflation rate, the employment rates, the technological advances and many more. The company needs to prepare for the changes in the macro-environmental factors.
Global environment factors: e.g. competition from MNC s, increasing opportunities as world has become one market, India & WTO. Demographical environment factors: Technological environment factors : Economic environment factors: Political, govt. and legal environment factors: Social and cultural environment factors: Natural factors
